Managerial Accounting

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Question 1

What is the difference between financial accounting
and managerial accounting?

Question 2

Explain the two reasons why the shorter the payback
period the more attractive the investment is when the payback technique is used?

 Question 3

Distinguish between a master budget and a sales
forecast.

Question 4

Explain the nature and importance of a job cost
sheet.

Question 5

Distinguish among operating, investing, and
financing activities.

Question 6

Managers’ activities and responsibilities can be
classified into three broad functions. List and discuss each function.

Question 7

Identify and discuss the relevant costs in accepting
an order at a special price.

Question 8

Smith & Company claims that the relevant range
concept is only important for variable costs. Explain the relevant range
concept and discuss whether you agree with Smith & Company.

Question 9

What is a CVP analysis and how is it used in
managerial accounting?

Question 10

What is the difference between: unit-level,
batch-level, product-level, and facility-level activities?

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